-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to cable network monitoring data, aluminum prices fell first and then rose this week, and the overall price was still weak
.
Represented by the Yangtze River nonferrous spot market, the price of A00 aluminum ingots at the beginning of the week was 12380 yuan / ton, and the price on Friday was 12220 yuan / ton, down 160 yuan, the overall decline was 1.
29%.
On the macro front, the recent hawkish statements by senior Fed officials, the expectation of interest rate hikes has reheated up, and the dollar has rebounded from 92 to above 94, suppressing external metal prices
.
The eurozone faces the risk of Brexit, and the market sentiment is not optimistic
.
In China, the market has been puzzled by a reversal of policy winds represented by an "authoritative" L-shaped statement in the China Securities News, which was further confirmed by a sharp pullback in credit data in April
.
The price of coal and steel, the focus of speculation in the early stage, has plummeted by half, the market fluctuates sharply in the short term, and the wind direction changes rapidly
.
In this context, the overall performance of Shanghai aluminum is following the trend of pullback, and its performance in the overall industrial products is obviously strong
.
In terms of market: the overall supply of aluminum market is tight and continues, and in the case of more orders, aluminum plants produce more aluminum water, which further aggravates the problem
of insufficient aluminum ingots.
Downstream orders were enthusiastic, and demand continued to improve
stimulated by the surge in real estate in the first quarter.
The latest estimates for resumption and new commissioning are around 1.
5 million tonnes and 1 million tonnes respectively, with the impact likely after
June.
The tight supply and demand expectations in the market continue to slowly reverse.
In terms of inventory: last week, Lunhu aluminum stocks were reduced, as of May 13, LME aluminum stocks reported 2,584,400 tons, a weekly decrease of 33,150 tons or 1.
26%, close to the low point set on January 20, 2009 (2552475 tons); In the same period, aluminum inventories in the previous period reported 293187 tons, a weekly decrease of 8,252 tons, the seventh decrease in eight weeks, close to the low since December 4 last year
.
Inventories have recently fallen rapidly, with inventories significantly lower than in previous years, and spot inventories falling significantly indicating continued tight supply
.
Aftermarket analysis: The recent domestic policy wind has tightened again, the commodity market has generally fallen, and it is expected that this week the domestic market will be mainly weak, and the aluminum market is difficult to improve significantly
.
However, the demand side postponement support in the second quarter still exists, and from the fundamental point of view of the aluminum industry chain, the resumption of production of aluminum plants is less than expected, inventory remains declining, it is expected that the current situation of relatively tight supply will continue, supply and demand mismatch is still the main logic supporting aluminum prices, so although there is pressure at the macro level, aluminum prices still have some upside opportunities, and whether it can stabilize is the key
.
